Wells Fargo & Company Cuts Lam Research (NASDAQ:LRCX) Price Target to $82.00

Lam Research (NASDAQ:LRCX) had its price objective reduced by Wells Fargo & Company from $83.00 to $82.00 in a research report report published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the semiconductor company’s stock.

Several other equities analysts have also commented on LRCX. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. Citigroup cut their target price on shares of Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research report on Monday, September 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. The Goldman Sachs Group cut their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.59.

Lam Research Trading Up 1.5 %

Shares of LRCX opened at $76.15 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm has a market capitalization of $97.98 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 1.37 and a beta of 1.45. The company has a 50-day moving average of $74.70 and a 200 day moving average of $81.22. Lam Research has a 1-year low of $68.87 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. Lam Research’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.85 earnings per share. On average, research analysts expect that Lam Research will post 3.51 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.21%. The ex-dividend date was Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.74%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. West Oak Capital LLC raised its stake in Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC increased its holdings in shares of Lam Research by 159.1% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 307 shares during the period. Laurel Wealth Advisors LLC purchased a new position in shares of Lam Research in the fourth quarter worth about $37,000. Eagle Bay Advisors LLC lifted its holdings in shares of Lam Research by 484.2% during the fourth quarter. Eagle Bay Advisors LLC now owns 555 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 460 shares during the period. Finally, Cranbrook Wealth Management LLC boosted its position in Lam Research by 900.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 550 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 495 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.